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Jul 5, 2012
07/12
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and the government is manipulating the market everyday. i wish we could get people as missed off about that as we do about this. >> but when you add all of these things -- >> no hedging, there was no hedging at jpmorgan. >> you're ignoring what i'm saying, it's a problem for the banking industry around the world here. >> bill, i want to say i don't think there has been a time where there is less confidence in the system -- >> so how can you dismiss the libor scandal as a victimless crime? >> i'm just saying it's a very small number. i'm saying it's a very small, i can't say -- >> it's a crime. >> i'm not saying it's not a crime. i'm not saying it's not a crime at all, it is a crime. >> the investors allowed the situation to let this go on too long. i think that's crazy as well. those are not transparent prices. the solution is more transparenty, guys, very simple. >> does it reinforce to the retail investor out there, that for years, have believed in the system, believed in the banks system, isn't it one more notch against the system itsel
and the government is manipulating the market everyday. i wish we could get people as missed off about that as we do about this. >> but when you add all of these things -- >> no hedging, there was no hedging at jpmorgan. >> you're ignoring what i'm saying, it's a problem for the banking industry around the world here. >> bill, i want to say i don't think there has been a time where there is less confidence in the system -- >> so how can you dismiss the libor...
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Sep 17, 2012
09/12
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certainly if you have government involvement, it's not government control, that means have you to have lower wages to pay your top executives. at the same time, they were able to create record profits last year and still pretty significant profits in the first and second quarter of this year, even with government involvement. the idea government involvement is an inhibitor that prevents the company from being profitable doesn't add up. >> it's interesting. all we've been hearing is how great this bailout was for auto industry, gm. now when you look closer at the situation, you realize gm wants governments out. you're having problems selling the volt. they're selling production factories. what about the issue of billions of losses in putting taxpayer dollars at loss. how do you address that? >> well, look at why we lost money. the reason we lost the $25 billion is because the administration made a decision to protect the uaw, the union, from the losses they normally take in bankruptcy. they decided that the unions -- the existing members weren't going to take a cut in their pay, keep th
certainly if you have government involvement, it's not government control, that means have you to have lower wages to pay your top executives. at the same time, they were able to create record profits last year and still pretty significant profits in the first and second quarter of this year, even with government involvement. the idea government involvement is an inhibitor that prevents the company from being profitable doesn't add up. >> it's interesting. all we've been hearing is how...
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Mar 9, 2012
03/12
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>> you know, i think that's really a question best directed to the greek government. whether they intend to pay those off. what's important, though, is any of those 4% that have not tendered into this auction, or tendered into this exchange, will get the benefit of any cds that they have outstanding. because we'll move forward with an auction on all obligations. once there's a credit event that's triggered, it's more general as to the reference entity. anybody who holds any of those bonds, and has credit default swap protection, will be able to be made whole on their cds. and then they just have to pursue whatever their revenues may be against the greek government on the underlying debt. >> what do you think this tells us about the other sovereigns out there, in terms of the credibility of the cdss of the likes of spain, portugal, italy, et cetera? >> i think when people enter into these contracts, you know, sovereign issues are always quite different from corporate issues. you're dealing with an obligor who actually has the power in many cases to change the underlyin
>> you know, i think that's really a question best directed to the greek government. whether they intend to pay those off. what's important, though, is any of those 4% that have not tendered into this auction, or tendered into this exchange, will get the benefit of any cds that they have outstanding. because we'll move forward with an auction on all obligations. once there's a credit event that's triggered, it's more general as to the reference entity. anybody who holds any of those...
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Sep 7, 2012
09/12
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manufacturing on one hand and government on the other. manufacturing was a snap back. i just want to show you this graph we put together here. this shows the range of estimates. the blue line is the median and the green is the actual. did they miss by a lot, no, 96,000 is a lot weeker than the 125 -- i bring this up because some people were quite a bit higher and there was a question if there was a higher number on the street. >> steve, you said even if this was a good number today, then the fed was acting next week. >> there is no guarantees, but i think they will act. if you read what fed chairman bernanke said and concluded but i think they're ready to go next week. >> peter, your blog after that report came out said ben's b 52 is on the way. >> yes, i was convinced after jackson hole it was moving again. he knew if he wanted to temper market expectations that would be a perfect venn view and he defended the previous qe. that set up market expectations for me for a qe move next week. >> so larry, in the past, we have seen financial assets rising, is it all in for st
manufacturing on one hand and government on the other. manufacturing was a snap back. i just want to show you this graph we put together here. this shows the range of estimates. the blue line is the median and the green is the actual. did they miss by a lot, no, 96,000 is a lot weeker than the 125 -- i bring this up because some people were quite a bit higher and there was a question if there was a higher number on the street. >> steve, you said even if this was a good number today, then...
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May 15, 2012
05/12
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but what is a company to do if that's the way the government says business is done? go to russia, go to china, it's our way or the highway. so what are they supposed to do? keep out of the country? what is the answer? >> well, the answer is certainly not encouraging a climate of lawlessness. u.s. companies never benefit from lawlessness and it isn't the government saying it's our way or the highway. it's individuals acting in a criminal manner and we don't want to feed those folks. the citizens of mexico do not thank us for creating jobs if creating jobs means we are paying off their government officials to jump the cue, possibly to get less rigorous oversight of construction of buildings that have ultimately collapsed. >> what about donald trump's point, then, that it's up to that government to prosecute people taking bribes? what do they care? >> well, we all care about a fair global bargain. it is not the american way to wh whine about foreign regulation. you don't say we're going to break local laws because everybody else is. >> right. i understand. >> if you do
but what is a company to do if that's the way the government says business is done? go to russia, go to china, it's our way or the highway. so what are they supposed to do? keep out of the country? what is the answer? >> well, the answer is certainly not encouraging a climate of lawlessness. u.s. companies never benefit from lawlessness and it isn't the government saying it's our way or the highway. it's individuals acting in a criminal manner and we don't want to feed those folks. the...
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Jul 12, 2012
07/12
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you wonder how they will respond and more importantly how the government will respond if the slow down continues. they're already cutting rates. >> they're cutting rates and stimulating demand and lending, and they're trying to avoid reig nating the real estate bubble or boom before the 2008 and 2009 slow down. so they're trying to get a soft landing -- >> what's a more realistic expectation for growth in china in the long run. they could not maintain a 10% rate forever. is 8% is? is it lower? 6%? what do you expect, long-term, from china? >> i believe it will decelerate. i can't tell you what percent per year, but it should be at least 8%, and then it will slow down from there. it's just the law of large numbers. those are quite exceptional growth rates when you consider all of what's going on in the rest of the world. >> what about the political instability that you referred to a moment ago. how worried should we be about that? >> part of why china is a place with so much negativity is because it's so opac. they don't know what's going on inside the closed doors, they don't have any
you wonder how they will respond and more importantly how the government will respond if the slow down continues. they're already cutting rates. >> they're cutting rates and stimulating demand and lending, and they're trying to avoid reig nating the real estate bubble or boom before the 2008 and 2009 slow down. so they're trying to get a soft landing -- >> what's a more realistic expectation for growth in china in the long run. they could not maintain a 10% rate forever. is 8% is?...
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Jun 28, 2012
06/12
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this was really unexpected saying the government may impose tax penalties on people that do not have health insurance. today the candidates weighed in. >> the highest court in the land is now struggling. we will continue to sbreimpleme this law, and we will work to improve on it when we can. but what country can't afford to do is refight the battles of ten years ago or go back to the way things were. >> i disagree with the supreme courts decision and with the dissent. what court did not do on it's last day in session,ly do on my first day if elected president of the united states. and that is, i will act to repeal obamacare. >> we are watching that, plus the decline in bank stocks after the "new york times" said the jpmorgan trading loss may reach as much as $9 billion. but kate kelly reported it would more likely be in the $4 billion to $6 billion range. we have john with us, sheryl joins us as well, maria. >> and also with us is christ of u.s. trust, he joins me here, the chief investment officer, and dan genter. john, on health care, this was a legal victory for democrats in the w
this was really unexpected saying the government may impose tax penalties on people that do not have health insurance. today the candidates weighed in. >> the highest court in the land is now struggling. we will continue to sbreimpleme this law, and we will work to improve on it when we can. but what country can't afford to do is refight the battles of ten years ago or go back to the way things were. >> i disagree with the supreme courts decision and with the dissent. what court did...
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Apr 10, 2012
04/12
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government is not the answer to everything. when i wasn't much older than most of you, my first job was working with a group of catholic churches in the south side of chicago in low-income neighborhoods to try to figure out how we can strengthen neighborhoods and families and i saw that the work that some of these churches did and can take the place of a parents' love and attention. and i also believe that since government is funded by you that it has an ability to be efficient and effective. and that's why we've eliminated dozens of programs that weren't working, announced hundreds of regulatory reforms to save businesses and taxpayers millionsle dollars which is before i was born, much less you being born and i believe here's the thing, i also agree with our first republican president, a guy from my home state. a guy with a beard named abraham lincoln. and what lincoln said was through our government we should do together what we can not do as well for ourselves. that's the definition of a smart government. and that's the rea
government is not the answer to everything. when i wasn't much older than most of you, my first job was working with a group of catholic churches in the south side of chicago in low-income neighborhoods to try to figure out how we can strengthen neighborhoods and families and i saw that the work that some of these churches did and can take the place of a parents' love and attention. and i also believe that since government is funded by you that it has an ability to be efficient and effective....
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Mar 28, 2012
03/12
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more talk about the government coming in with more spr, strategic petroleum oil. inventory is rising. that pushed crude oil down $1.80 at 1552. some of the european companies and watch, this the performance this year so far for brent and for new york crude, crude is up 16, 17%. r crude is up 7%. what is gasoline going to do? somewhere in the middle? wrong. watch this. gasoline futures are up 28% so far this year. adding more oil to the market apparently is not going to help. the refining capacity is the problem if the government wanted to help they would have to buy up refiners and run them full board and try to bring the price of gasoline down. our sectors today, as we look at the sectors, the financials, a long gainer here. let me get over to joe quinn lan here. your favorite investment right now is water? >> that's right. >> why? >> the world's most precious commodity is water. the national intelligence agency talked about the water shortage, risk of war, and a lot of things related to that. industrials look good here, treating it, storing it, waste water manag
more talk about the government coming in with more spr, strategic petroleum oil. inventory is rising. that pushed crude oil down $1.80 at 1552. some of the european companies and watch, this the performance this year so far for brent and for new york crude, crude is up 16, 17%. r crude is up 7%. what is gasoline going to do? somewhere in the middle? wrong. watch this. gasoline futures are up 28% so far this year. adding more oil to the market apparently is not going to help. the refining...
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Jun 29, 2012
06/12
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will the government get trigger happy if a bank gets into trouble but it's not a dire situation. will they be tempted to you it. maybe they will, and do you news to lose another big financial institution. we have not gotten there yet, and it will take a year to sift through the documents, so we will see. >> i love it. i love how a 1,000-page document is the short version. >> yes, and helman's $600 million they paid, you're handing a bankruptcy judge some too, so that helps too. >> thanks, kayla. so jpmorgan trading, should you buy or sell bank stocks the rest of the year. >> let's talk to eric, you like the banks, what are the fundamentals you look at? is it europe, our own fundamentals, or something else that gets you to like the banks right now? >> we look at u.s. fundamentals primarily, and overlay them with what's going on with europe. we're back to looking the u.s. fundamentals. one of the things i a highlight is the mortgage questions are stabilized and may decline. that was a major expense in the last two years. >> but it is a different story when you look short-term verse
will the government get trigger happy if a bank gets into trouble but it's not a dire situation. will they be tempted to you it. maybe they will, and do you news to lose another big financial institution. we have not gotten there yet, and it will take a year to sift through the documents, so we will see. >> i love it. i love how a 1,000-page document is the short version. >> yes, and helman's $600 million they paid, you're handing a bankruptcy judge some too, so that helps too....
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Sep 10, 2012
09/12
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aig is now poised, finally, to end government ownership, get out of the government's hands for the most part. mary thompson has more on this milestone moment for the insurance giant that was bailed out by taxpayers four years ago. >> it is a big moment. with the government selling up to $20.7 billion of aig stock its stake in the insured could fall to 20% or maybe less. a stake that small unthinkable to many in 2008 and '09 when a variety of government loans and aid totaling $182 billion left treasury holding a 92% stake in aig. the final number will depend on the price the shares are sold at. add in aig's $5 billion buy back and it could cut the treasury stake to around 20%. this sale, the largest of the four treasuries undertaken since may of last year with the prior three feshing an average share price above the government's break-even price of $27.23. the stock is trading well above its ten-day moving -- or ten-day average on a volume basis. still, jim milstein who worked for the treasury on aig's rescue says it's time a big stake like this was sold. the stock representing a smaller
aig is now poised, finally, to end government ownership, get out of the government's hands for the most part. mary thompson has more on this milestone moment for the insurance giant that was bailed out by taxpayers four years ago. >> it is a big moment. with the government selling up to $20.7 billion of aig stock its stake in the insured could fall to 20% or maybe less. a stake that small unthinkable to many in 2008 and '09 when a variety of government loans and aid totaling $182 billion...
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Aug 23, 2012
08/12
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how much do you think should should go to the government? >> for someone in the highest bract, 35 at the marginal rate. that's what we have now. we have a system that inabcrediy inefficient. >> america is competitive advantage -- >> guys, this points to -- >> jimmy, this only points to how complicated our tax situation is in this country. e there are too many kinds of taxes we're paying and we're not getting our moneys worth. >> we're not, and there's no effort to streamline, fix entitlements and then see what we need for taxes. we can't bother trying to reform medicare or government -- >> who has the political will to do that, though? who has the will to touch the entitlement programs in this country. >> we will one way or the other. there's no way we can tax enough to cover that gap. >> it's amazing to me that we keep talking about tax reform. what's holding you back, on both sides of the aisle we have to see tax reform -- >> people talk about getting rid of the mortgage interest deduction or interest bonds, lobbyist supporting them are ve
how much do you think should should go to the government? >> for someone in the highest bract, 35 at the marginal rate. that's what we have now. we have a system that inabcrediy inefficient. >> america is competitive advantage -- >> guys, this points to -- >> jimmy, this only points to how complicated our tax situation is in this country. e there are too many kinds of taxes we're paying and we're not getting our moneys worth. >> we're not, and there's no effort to...
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Jul 19, 2012
07/12
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so this is in many ways, much more of a government crisis than a economic crisis. but another thing we said, and bob rubin and i said the same thing, it's impossible to know when the market will turn. but when it does, it will do to with a vengeance. >> in a way we're distracted by this fiscal cliff. the prize is growth, and the issue is competitiveness when we talk about the long-term prospects of america. >> maria, the point that i made is that if you look at our current economic problems, there's probably three reasons for it. first of all, obviously, we had the great recession, this huge deleveraging going on. that will come back over time. secondly there's an uncertainty around the government's ability or willingness to act on the fiscal cliff. thirdly, we have a competitiveness issue. and the way i define competitiveness is this. can u.s. businesses compete with those around the world and have our standard of living go up? we're not competitive if our standard of living is going down. we're debating the wrong things. what should we do with high income earner
so this is in many ways, much more of a government crisis than a economic crisis. but another thing we said, and bob rubin and i said the same thing, it's impossible to know when the market will turn. but when it does, it will do to with a vengeance. >> in a way we're distracted by this fiscal cliff. the prize is growth, and the issue is competitiveness when we talk about the long-term prospects of america. >> maria, the point that i made is that if you look at our current economic...
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Sep 24, 2012
09/12
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it's the local governments that are at risk. you know, two-thirds of the market is the revenue bonds, which are, you know -- or greater than that, which are revenue bonds, and are not supported by tax increases or taxpayer dollars. what people don't appreciate is pensions are also supported by taxpayer dollars. pensions only in the last couple of years have started to be counted into the overall debt equation of these states. states don't look as healthy as they are perceived to be. >> sounds like the country, by the way. >> most investors in municipal bonds look for yield and duration and don't care about anything else. that's dangerous. >> let me ask you about the banks and the market here. we have so much momentum in equities with central bank stimulating everything. the banks have been the leading sector to invest in. would you be buying into this momentum we're seeing in the financials or do you want to sell it? >> well, right now the banks are yielding less than the overall s&p. and i think that there are certain banks tha
it's the local governments that are at risk. you know, two-thirds of the market is the revenue bonds, which are, you know -- or greater than that, which are revenue bonds, and are not supported by tax increases or taxpayer dollars. what people don't appreciate is pensions are also supported by taxpayer dollars. pensions only in the last couple of years have started to be counted into the overall debt equation of these states. states don't look as healthy as they are perceived to be. >>...
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Jul 6, 2012
07/12
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plus, a new government agency is vowing to completely overhaul the mortgage industry, could it make things worse if they're not careful. the man in charge of that overhaul of the consumer protection bureau will join us in the next hour of closing bell to talk about that coming up, stay tuned. tdd# 1-800-345-2550 i'm constantly working my screens. tdd# 1-800-345-2550 checking the charts. tdd# 1-800-345-2550 looking for support, tdd# 1-800-345-2550 resistance, breakouts, tdd# 1-800-345-2550 a few other tricks that i'll keep to myself. tdd# 1-800-345-2550 that's how i trade. tdd# 1-800-345-2550 and i do it all with charles schwab, tdd# 1-800-345-2550 because their streetsmart edge platform tdd# 1-800-345-2550 helps me trade quickly, intuitively. tdd# 1-800-345-2550 staying on top of the market is key! tdd# 1-800-345-2550 and the momentum tool, tdd# 1-800-345-2550 it lets me do it at a glance, tdd# 1-800-345-2550 so when things shift, i'm ready. tdd# 1-800-345-2550 then to track the stocks i have my eye on, tdd# 1-800-345-2550 i turn to schwab's high/low ticker. tdd# 1-800-345-2550 so i can sp
plus, a new government agency is vowing to completely overhaul the mortgage industry, could it make things worse if they're not careful. the man in charge of that overhaul of the consumer protection bureau will join us in the next hour of closing bell to talk about that coming up, stay tuned. tdd# 1-800-345-2550 i'm constantly working my screens. tdd# 1-800-345-2550 checking the charts. tdd# 1-800-345-2550 looking for support, tdd# 1-800-345-2550 resistance, breakouts, tdd# 1-800-345-2550 a few...
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238
Aug 9, 2012
08/12
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some governments are considering using emanant domain to help struggling homeowners to stay in their homes. are americans under taxed? former white house economic advisor jared bernstein thinks so and says why you should pay more to the irs. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#: 1-800-345-2550 6 months commission-free online equity trading tdd#: 1-800-345-2550 with a $50,000 deposit. tdd#: 1-800-345-2550 call 1-866-294-5412. it's something you're born with. and inspires the things you choose to do. you d
some governments are considering using emanant domain to help struggling homeowners to stay in their homes. are americans under taxed? former white house economic advisor jared bernstein thinks so and says why you should pay more to the irs. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#:...
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Aug 10, 2012
08/12
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government would band farmers from exporting corn to we could keep it at home? >> in a normal world i would say yes, but we have the central banks tinkering with equity prices, qe 1 and qe 2, and there is so so much distortion and we have not solved our fiscal cliff problem, i can't see them getting involved right now. >> you think corn is expensive now, shelly said in the great grain robbery when russia bought everything we had, corn hit $3.80 a bushel, in today's dollars that would be $18. >> it's not just wheat and corn skyrockets here, oil taking a run up as well. up 10% over the last month and that is driving gasoline prices higher. this is giving a lot of consumers indigestion, but inflation will take a bite out of consumers wallets. >> dennis garmin says it may center on the meat market, and addison, you say you're not concerned, but mothers and fathers are. >> at the macro level, i'm not that concerned. we have no ions other than in certain small markets. you might say they're not small, they take up big portion of a family's budget, and that's true, but
government would band farmers from exporting corn to we could keep it at home? >> in a normal world i would say yes, but we have the central banks tinkering with equity prices, qe 1 and qe 2, and there is so so much distortion and we have not solved our fiscal cliff problem, i can't see them getting involved right now. >> you think corn is expensive now, shelly said in the great grain robbery when russia bought everything we had, corn hit $3.80 a bushel, in today's dollars that...
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Jun 25, 2012
06/12
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is slowing down, is we have seen a dramatic curtailment of government expenditures this year to -- so far. we have seen kind of a precursor of some of the fiscal issues, fiscal drag, when you have a fair amount of spending curtailment. >> maria, you hit right on the nail. that's what the bis has said. this is an illusion. and that is creating your anger. because people are turning to the fed but the fed can do nothing. >> thank you. >> good to see you. thank you for joining us today. come on now. you know why -- >> all fired up focusing more on the fed than the fiscal issues because the fiscal issues are determined by people who are elected by -- if they want to be re-elected they won't touch that until after the election. come on, maria. >> people are so sick of that. >> i agree. >> i'm over this. make a decision and create leadership. >> it is not going to happen. >> it is not going to happen. >> i'm telling you. >> vacuum. >> there you go. whoever said that, voice out of nowhere. what do you think is the biggest headache important the markets now? you guess we will stick with the q
is slowing down, is we have seen a dramatic curtailment of government expenditures this year to -- so far. we have seen kind of a precursor of some of the fiscal issues, fiscal drag, when you have a fair amount of spending curtailment. >> maria, you hit right on the nail. that's what the bis has said. this is an illusion. and that is creating your anger. because people are turning to the fed but the fed can do nothing. >> thank you. >> good to see you. thank you for joining us...
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Apr 2, 2012
04/12
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despite the talk of trying to bring oil prices down, this is the problem that central governments face when they start talking about proving the market. the markets try to fight back and that's what's happening today with energy, the best gainer or among the best gapers today. material, technology, consumer staples and financials among the top five s&ps today. show me the rest of them as we head toward the close. the other five, all of them are positive for the day. do you like energy stocks? >> you know, that point, i have kind of an agnostic view on energy and here's why. i think on the risk side you've about got oil price volatility at the highest level we've ever seen. er's buying calls on oil. what about downside risk to oil. on a valuation basis the sector is steep. i think if you look at earnings, they're pricing in, quick and dirty. they're pricing in at about $95. >> you mean oil stocks themselves. >> yep. >> okay. i worry about the downside risk to oil that no one else seems to think about. >> the cat-and-mouse game that's going on between the various governments and the cent
despite the talk of trying to bring oil prices down, this is the problem that central governments face when they start talking about proving the market. the markets try to fight back and that's what's happening today with energy, the best gainer or among the best gapers today. material, technology, consumer staples and financials among the top five s&ps today. show me the rest of them as we head toward the close. the other five, all of them are positive for the day. do you like energy...
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May 10, 2012
05/12
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the uncertainty coming out of europe, trying to form a government and spanish yields keep on rising this afternoon. take a look at yields in the united states, they are also on the rise today as investors take a break from the flight to safety trade. we've got bond prices down, rates up a fraction and money moving into he can request it teas. the dollar losing steam after the big runup that we saw the last couple of sessions and investors getting more clues. tomorrow when we get the latest consumer sentiment and consumer price index report, they could be market movers. we'll be watching those to see what the tone will be set from those releases. or row zone uncertainties keeping investors and the markets on edge. we kick off this final hour of trading. bill? >> we have bertha coombs joining us today at the big board. glad to have you on board. in chicago it's rick santelli. steve liesman is back at headquarters wishing he were fishing. i'm sorry. i had to give it away there, steve. bertha, a bounce, i guess. we'll see if this will last. we're losing steam in the final hour. >> this morni
the uncertainty coming out of europe, trying to form a government and spanish yields keep on rising this afternoon. take a look at yields in the united states, they are also on the rise today as investors take a break from the flight to safety trade. we've got bond prices down, rates up a fraction and money moving into he can request it teas. the dollar losing steam after the big runup that we saw the last couple of sessions and investors getting more clues. tomorrow when we get the latest...
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Sep 26, 2012
09/12
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governments push these companies to give them the data. you know, give up some information on people. so it's very scary. i always say, if you don't want it on the cover of "the wall street journal," don't do it and don't say it. >> words to live by. we'll take a break and come back with a recap on the day. >> after the bell, don't miss my one on one interview with billionaire oil man boone pickens. we'll talk about when oil prices will hit bottom and more. you're watching the "closing bell" on cnbc, first in business worldwide. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. save 50% on banners. l
governments push these companies to give them the data. you know, give up some information on people. so it's very scary. i always say, if you don't want it on the cover of "the wall street journal," don't do it and don't say it. >> words to live by. we'll take a break and come back with a recap on the day. >> after the bell, don't miss my one on one interview with billionaire oil man boone pickens. we'll talk about when oil prices will hit bottom and more. you're watching...
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Mar 26, 2012
03/12
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i think the government's trying to do what they can in the central government to help support us, to get that project built in the right way. and i expect we will get the review back in the next probably 30 to 60 days. and with that, i think we will find a way it move forward. and even if we don't, in the initial term, we have capital that we can put into other projects. but i do expect that konga project will go forward on the right economics. >> how patient will be you -- how much is this costing you? it is costing you a lot of money. >> yeah, the project itself is about $4.5 billion. but everyday of delay cost us obviously in interpret of what production is expected and the cost of delay itself. we are estimating that's about half a million dollars, down because we let people go and reduced staff. but we are going to have to make sure we ramp this up in a very community constructive manner, they we are responsive. and i think it is em kemic to what we are deeing in the world. projects take longer, and longer than we think they should. but we we are in the community and we have to
i think the government's trying to do what they can in the central government to help support us, to get that project built in the right way. and i expect we will get the review back in the next probably 30 to 60 days. and with that, i think we will find a way it move forward. and even if we don't, in the initial term, we have capital that we can put into other projects. but i do expect that konga project will go forward on the right economics. >> how patient will be you -- how much is...
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Apr 25, 2012
04/12
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as an example, you buy government-secured mortgages, govern had the secured student lending and then you put together all of your riskier assets which allows you to draw down on your loan provisions and that only lasts so long. so the big banks are kind of zombie-like, treading along, not that interesting. some of the regional banks, some of the larger regional banks is where the reaction is going to be. >> and what is your reaction? >> i am wildly bullish on the u.s. now u.s. -- in particular markets of the u.s. parse of the u.s. market looks collective but it's not going to grow all together. i think you're going to continue to be tough. but for an investor, there's so much opportunity out there. >> what's your favorite idea? where's the opportunity? >> there's opportunity all throughout from texas to north dakota. >> agriculture is what you're talking about? >> also the right to work states, where businesses are moving because that's easier to operate and create jobs. so you see a massive demographic shift to those areas and you see the pro cyclical problem developing. today it wa
as an example, you buy government-secured mortgages, govern had the secured student lending and then you put together all of your riskier assets which allows you to draw down on your loan provisions and that only lasts so long. so the big banks are kind of zombie-like, treading along, not that interesting. some of the regional banks, some of the larger regional banks is where the reaction is going to be. >> and what is your reaction? >> i am wildly bullish on the u.s. now u.s. -- in...
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Aug 20, 2012
08/12
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government. they could let us go over the fiscal cliff. >> you're betting against dysfunctionalty in the government? >> i am. >> really. >> i think the surprise is going to be we're going to affect smarter policymakers and get smarter policies and more productivity. >> does that mean you think we're going to see a change in the white house in november. >> i think it's more important if we see a change in the senate. the market does better if there is a republican congress. the presidency doesn't really make that much difference to the market. it's up about 15% if you go back to 1936. >> i think the problem -- i agree there -- is that you've got to believe that the lot of things are going to go right for the market to go appreciably higher. particularly on europe. yet so far, draghi has been calling it right. i think the question now is whether he's going to be able to get buy in from the electorate in europe. watch the danish elections. other things coming on. dutch elections, excuse me, coming o
government. they could let us go over the fiscal cliff. >> you're betting against dysfunctionalty in the government? >> i am. >> really. >> i think the surprise is going to be we're going to affect smarter policymakers and get smarter policies and more productivity. >> does that mean you think we're going to see a change in the white house in november. >> i think it's more important if we see a change in the senate. the market does better if there is a...
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Nov 23, 2012
11/12
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if anything, the government prosecutors seem to be coming closer to cohen with every step. we don't know what kind of evidence they have on him. but they're certainly trying. so it is clearly become a cause for the district attorney in manhattan and they focus on insider trading in a big way. >> kate kelly work being the story there, thanks. >>> coming back with the closing countdown on this holiday shortened day. the markets about to close and with a pretty good rally. >> a black friday rally is giving investors an early holiday present. can it carry over into next week with still a lot of uncertainty hanging over the markets. >>> and one energy expert says consumers could get another gift in the new year. he's predicting a plunge in oil prices. we can only hope. you're watching cnbc, first in business worldwide. [ male announcer ] if you suffer from heartburn 2 or more days a week, why use temporary treatments when you can prevent the acid that's causing it with prevacid24hr. with one pill prevacid24hr works at the source to prevent the acid that causes frequent heartburn
if anything, the government prosecutors seem to be coming closer to cohen with every step. we don't know what kind of evidence they have on him. but they're certainly trying. so it is clearly become a cause for the district attorney in manhattan and they focus on insider trading in a big way. >> kate kelly work being the story there, thanks. >>> coming back with the closing countdown on this holiday shortened day. the markets about to close and with a pretty good rally. >>...
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Feb 1, 2012
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the government's going to sell $72 billion in treasuries. and of course, last but not least, i just got an update on some of the mf issues, they're not going to be able to handle ha in a more futures bankruptcy chapter 7. that is the news of the day regarding mf. >> rick, thank you so much. we have so much to get to over the next two hours. hope you can stick around during that time for "closing bell." 40 minutes before the bell rings. the nasdaq very strong today. a gain of 37 points. >> so hoe douse facebook decide where it is going to trade? what is the nasdaq going to to lure facebook? what about the nyse? that's what we'll take a look at, when it goes public. robert greifeld will lay it out. >> is the health care reform law affecting the bottom line? we'll talk about that among other things. >> the hype surrounding facebook's upcoming ipo, can it contribute to a new technology bubble. >> first, here's a look at the sea of green for the s&p 500 as we begin the month of february. you're watching cnbc, we are first in business worldwide. g
the government's going to sell $72 billion in treasuries. and of course, last but not least, i just got an update on some of the mf issues, they're not going to be able to handle ha in a more futures bankruptcy chapter 7. that is the news of the day regarding mf. >> rick, thank you so much. we have so much to get to over the next two hours. hope you can stick around during that time for "closing bell." 40 minutes before the bell rings. the nasdaq very strong today. a gain of 37...
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Dec 10, 2012
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the government is investigating that charge. we'll have the story. then we'll bring you the latest on the quest to save the twinkie. and what about the ding dong? just as important, right? all coming up. >> what's up, seth? >> thank you for coming ding dong. >> wow. you know my name now. i mean, with all this twinkie talk, i thought everybody had forgotten about me. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-
the government is investigating that charge. we'll have the story. then we'll bring you the latest on the quest to save the twinkie. and what about the ding dong? just as important, right? all coming up. >> what's up, seth? >> thank you for coming ding dong. >> wow. you know my name now. i mean, with all this twinkie talk, i thought everybody had forgotten about me. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to...
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May 30, 2012
05/12
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it's the hand of big government. it's taking away about four months pay from what your daddy earns every year. $1 out of every 3 in his paycheck. >> where did we find that? that is hilarious. nearly 50 years. that's barry goldwater's commercial there. the fight against big government gets bigger. why is the former economic council saying that americans secretly love big government. they just don't know it. >> this i have to hear. >> our twitter question of the day, is it realistic to expect the cuts to social security and medicare in order to shrink big government? tweet us your responses. we'll share them later in the show. back in a moment. that could adapt to changing road conditions. one that continually monitors and corrects for wheel slip. we imagined a vehicle that can increase emergency braking power when you need it most. and we imagined it looking like nothing else on the road today. then...we built it. the 2012 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz finan
it's the hand of big government. it's taking away about four months pay from what your daddy earns every year. $1 out of every 3 in his paycheck. >> where did we find that? that is hilarious. nearly 50 years. that's barry goldwater's commercial there. the fight against big government gets bigger. why is the former economic council saying that americans secretly love big government. they just don't know it. >> this i have to hear. >> our twitter question of the day, is it...
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Nov 5, 2012
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as you know, 20% of gross domestic product comes from government spending. so, therefore, where is the lift going to come from. have you an economy that's not organic. i think we'll have a big bump -- i think the bulls will be running if romney wins but i think the second half of next year, due to earnings pressure, you'll see that in valuations for the stock market. it could be a rough second half next year. >> will we get earnings pressure regardless, just given the fiscal cliff issues? where we are right now a lot of economists expecting a recession in 20 13 because we haven't addressed these important issues. mike? >> potentially. obviously, that is the reason it's going to be issue one on wednesday, assume swreg a winner from either side. yeah, i do think that's an issue. how much of a drag? i think that's where, by the way, this episode differs from, say, the y2k analogy, everything was great, fine, or we had c cataclism. we have to figure if that's going to be criming to an economy that seems like it's held up okay on the consumer side, housing coming
as you know, 20% of gross domestic product comes from government spending. so, therefore, where is the lift going to come from. have you an economy that's not organic. i think we'll have a big bump -- i think the bulls will be running if romney wins but i think the second half of next year, due to earnings pressure, you'll see that in valuations for the stock market. it could be a rough second half next year. >> will we get earnings pressure regardless, just given the fiscal cliff issues?...
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Feb 10, 2012
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they will do anything until the greek government gets an aster ti bill. and that they'll enforce the bill even if they pass it. that's why people are talking about these escrow accounts. and all this, again, just still very, very fluid. >> of course, once we have a solution, or resolution in greece, that certainly dictates what happens in italy, among other countries in the eurozone. we'll be talking with mario monti in an exclusive interview, the prime minister of italy. throughout all of this, we've got violence in the street of athens, as we speak. greece plunged into political turmoil. today its lawmakers continuing to wrangle over the country's austerity. on top of that, today, late in the day, s&p downgraded 34 out of the 37 italian banks today, bill. >> yeah. so will these new developments force investors to take profits and get out of the stock market right now, as we're seeing today. we've got david dars at morgan stanley smith barney, and meg mcclelland joins us also. is this a one-day wonder do you think? >> you're asking the great people, unem
they will do anything until the greek government gets an aster ti bill. and that they'll enforce the bill even if they pass it. that's why people are talking about these escrow accounts. and all this, again, just still very, very fluid. >> of course, once we have a solution, or resolution in greece, that certainly dictates what happens in italy, among other countries in the eurozone. we'll be talking with mario monti in an exclusive interview, the prime minister of italy. throughout all...
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Jun 4, 2012
06/12
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i'm not opposed to the idea of the government exploring the idea of more investments. things like roads, opening up value in real estate. not entirely impossible for the government to make investments but i would say in the first order we should look at refying, taking out things, extending terms. if the world wants to give us money, we should take it to the extent that it benefits us on a fiscal basis. >> how about just extending the spending programs and bush tax cuts so we don't face this fiscal cliff, sleeve? >> i think that's a good idea but it has to come with a plan. it has to show some political backbone where people can get together and say, okay, here we go. and here is the plan for the next ten years to bring it down. the mark set giving us rope. let's use the rope to save ourselves rather than to hang ourselves. >> maria, don't you find it just insane that we have no idea year to year for the last several years, what the income tax rate is going to be, what fees for future healthcare are going to be. and i think many just have looked at the first stimulus a
i'm not opposed to the idea of the government exploring the idea of more investments. things like roads, opening up value in real estate. not entirely impossible for the government to make investments but i would say in the first order we should look at refying, taking out things, extending terms. if the world wants to give us money, we should take it to the extent that it benefits us on a fiscal basis. >> how about just extending the spending programs and bush tax cuts so we don't face...
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Oct 5, 2012
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what is the role of government? the role of government should be limited to certain things. >> i'm just talking about big bird. i think that the country probably will do fine funding big bird for another few years. >> that's not the point. >> i think we'll be fine. >> you know we add another $400 million there, $400 million here. it's real money, bob. >> what do we have, a $4 trillion budget? >> you would blow $400 million because you like big bird? >> what benefit are we getting from having something like a national public radio? what benefit do we get out of that? i think we get benefits out of that. if you argue, why should we go to the moon? >> individuals will give money to them. that's how we do most organizations in this country. >> as you can see, we agree. up next, we're coming right back with the closing countdown. >> critics saying something is wrong with the jobs numbers today. the labor secretary rejecting those charges earlier. >> i'm insulted when i hear that because we have a very professional civil
what is the role of government? the role of government should be limited to certain things. >> i'm just talking about big bird. i think that the country probably will do fine funding big bird for another few years. >> that's not the point. >> i think we'll be fine. >> you know we add another $400 million there, $400 million here. it's real money, bob. >> what do we have, a $4 trillion budget? >> you would blow $400 million because you like big bird? >>...
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Sep 18, 2012
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there are individuals in america that earn so little they get a supplemented check from the government when they file their taxes. >> yeah, the earned income tax credit and child credit help low-income working families that have kids. >> we've been conducting this non-scientific cnbc poll on the romney comments. you can still vote. to this point, about 75% of those who decided to vote seem to agree with what governor romney said. rick, what do you make of that? >> we have a dependency society. we do. it's a fact. i'm not saying there aren't subsects of people, whether they're retired or can't work or whether they're too old to work, but when i look at the labor force participation rate and i see that out of the eligible pool of workers, we're bringing forth the fewest to actually have a job, there is a problem here. maybe the media ought to quit hiding under tables and look at some of the bigger damn issues. >> rick, you know you and i stand on the same side of the aisle. what i found frustrating is his dismissiveness. he's not going to try. why not articulate about how the economy is
there are individuals in america that earn so little they get a supplemented check from the government when they file their taxes. >> yeah, the earned income tax credit and child credit help low-income working families that have kids. >> we've been conducting this non-scientific cnbc poll on the romney comments. you can still vote. to this point, about 75% of those who decided to vote seem to agree with what governor romney said. rick, what do you make of that? >> we have a...
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Jul 13, 2012
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there are places in the world where governments don't collect income tax at all. some of the oil and gas rich regions don't tax citizens because they're a state run commodity business that is so profitable they don't need the extra revenue. consider the largest natural gas reserve in the world, they live tax free and don't charge capital gains tax. . bahran also doesn't tax personal yk. the kay men islands, bermuda, don't tax personal income. they generate revenue from taxes businesses and imported goods. these places are not company places to live. property prices are on the higher side, and food can cost more. especially produce that can't be locally grown. you may be living tax free, but the cost of living is higher. >> and you have to give up your citizenship. yes, i could have stayed there and lived tax free, or you can have duel situation, give up the u.s. piece of it and pay taxes elsewhere. >> like you need an incentive to move to the bahamas, taxes? give me a break. so how much do the new york fed know about the rate rigging ska scandal back in 2008. timn
there are places in the world where governments don't collect income tax at all. some of the oil and gas rich regions don't tax citizens because they're a state run commodity business that is so profitable they don't need the extra revenue. consider the largest natural gas reserve in the world, they live tax free and don't charge capital gains tax. . bahran also doesn't tax personal yk. the kay men islands, bermuda, don't tax personal income. they generate revenue from taxes businesses and...
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Dec 7, 2012
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we have to pay for all this government. the big mistake is growing government. >> although there's a room for balance, i don't say peter's wrong entirely, the fact of the matter is the top 2% are not paying their fair share. american people don't think so. the numbers don't add up. if you want a deal here, you're going to have to raise the rates and then if you want to talk about spending cuts, as i think the president will eventually do, you'll see a last-minute agreement. >> first of all, i'm in the top 2%. i'm paying 45% of my total income in income tacks boxes to state of connecticut and the government. >> you need a better accountant, peter. >> more than half of my income is going to go to the government. you tell me, what's fair about that? >> i'll tell you what's fair about that -- >> i'm paying half. excuse me. i don't care what the majority voted to do. they don't have a right to steal my money just because they vote for it. >> i'll tell you what the problem is. we're in a crisis. we're in a crisis caused by the bu
we have to pay for all this government. the big mistake is growing government. >> although there's a room for balance, i don't say peter's wrong entirely, the fact of the matter is the top 2% are not paying their fair share. american people don't think so. the numbers don't add up. if you want a deal here, you're going to have to raise the rates and then if you want to talk about spending cuts, as i think the president will eventually do, you'll see a last-minute agreement. >> first...
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Apr 27, 2012
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today's government report showing gdp. that was a disa.ment. up 2.2, just below what analysts were expecting. indicating you should be seeing stronger growth at this point in the recovery than we actually are. s&p and the knanasdaq on track. rates moving higher. unemployment in spain soaring to 24.4%. that doesn't even indicate the youth story. and s&p cutting the credit rating by two notches late yesterday on spain. scott? market in the u.s. clearly ignores the deepening crisis in spain. although you could make that argument, scott, but at the same time, once again, europe is front and center once again. maybe today we ignore it. this is the issue for investors. spain and the euro zone. >> and that issue is not going away, obviously. let's survey the situation in today's "closing bell" situation. bob pisani is here at the new york stock exchange and simon hobbs. i'll break earnings season down in two parts. preapple, post apple. since apple reported up 2%, it's taken a while for the market to pay attention are we going to get an earnings rally
today's government report showing gdp. that was a disa.ment. up 2.2, just below what analysts were expecting. indicating you should be seeing stronger growth at this point in the recovery than we actually are. s&p and the knanasdaq on track. rates moving higher. unemployment in spain soaring to 24.4%. that doesn't even indicate the youth story. and s&p cutting the credit rating by two notches late yesterday on spain. scott? market in the u.s. clearly ignores the deepening crisis in...
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Sep 4, 2012
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the governments need longer term debt. a bigger program overall. i am -- i doubt that's moving the markets. that's going to satisfy them? you think so? >> first of all, i think it is likely the markets will be disappointed on thursday because i don't think the ecb will do anything until spain, for example, requests a package which allows the esm to start buying debt on the primary market. they'll not buy until the esm -- >> you could get a rate check on thursday but people's expecting as are so high now that would be disappointing. >> i think you'll see a rate cut on thursday. >> a rate cut. >> and rhetoric saying we are prepared to enter the market and buy debt. expectations have been ratcheted up it's probably not going to disappoint. >> mixed economic data out. the ism number showing manufacturing below the expansion level. more important to you, those auto sales figures were pretty good. >> i don't know if there's been much talk about the auto sales numbers. two reasons i like car sales. one, it's a real number. it's not a survey. they don't re
the governments need longer term debt. a bigger program overall. i am -- i doubt that's moving the markets. that's going to satisfy them? you think so? >> first of all, i think it is likely the markets will be disappointed on thursday because i don't think the ecb will do anything until spain, for example, requests a package which allows the esm to start buying debt on the primary market. they'll not buy until the esm -- >> you could get a rate check on thursday but people's...
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Jul 16, 2012
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where was the government when other recent scandals slipped through the cracks? we will dig into that debate. and view from the hill. senator richard shelby weighs in on the cincinnati banking committee's planned investigation into the rate f fixing scandal. the fallout continues. you saw it here and only here. >> you are under oath. i'm serious. you are on national tv. >> i'm not under oath for and you i'm not in your courtroom. you are on my show. thank you very much for joining us, ellioiot spitzer. >> mixing it up with eliot spitzer. the latest wrinkle on this contentious appearance later on the "closing bell." this is new york state. we built the first railway, the first trade route to the west, the greatest empires. then, some said, we lost our edge. well today, there's a new new york state. one that's working to attract businesses and create jobs. a place where innovation meets determination... and businesses lead the world. the new new york works for business. find out how it can work for yours at thenewny.com. is now within your grasp with the e-trade 36
where was the government when other recent scandals slipped through the cracks? we will dig into that debate. and view from the hill. senator richard shelby weighs in on the cincinnati banking committee's planned investigation into the rate f fixing scandal. the fallout continues. you saw it here and only here. >> you are under oath. i'm serious. you are on national tv. >> i'm not under oath for and you i'm not in your courtroom. you are on my show. thank you very much for joining...
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Apr 11, 2012
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we just want the government to get their acts together. the ecb's work is done here. we did have a nice move up, though, in all of the advancing and declining stocks and right from the open it's been declining. bottom line is not just alcoa. this is a largely positive news here. in owens, illinois, one of the largest bottle orders. they are big glass makers. they preannounced positive earnings. that stock is up as well. so two stocks -- i know it's early but all had positive things to say. >> and they are all economic sensitive. >> and alcoa, in your interview with klaus, he had positive comments. >> he said aerospace is doing well and also autos in the u.s. europe is still troubled, although it has not worsened but it's still troubled. asia, all of this hype about china slowing down, not that much. >> and then steve came in and took the edge off the rally t looked like a good report. >> that's exactly why it took the edge off the rally. i loved bob's comment on that. the there were a lot of positive strengthening and you can see there boston, new york, st. louis reta
we just want the government to get their acts together. the ecb's work is done here. we did have a nice move up, though, in all of the advancing and declining stocks and right from the open it's been declining. bottom line is not just alcoa. this is a largely positive news here. in owens, illinois, one of the largest bottle orders. they are big glass makers. they preannounced positive earnings. that stock is up as well. so two stocks -- i know it's early but all had positive things to say....
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Nov 14, 2012
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meanwhile, the egyptian government has recalled their ambassador from israel. the israeli ambassador will be leaving egypt within a few hours. this attack in gaza is becoming an international event, which could threaten to make the region even more volatile. >> martin fletcher, thank you very much. maria. >> well, the attack having a major impact on the oil market today. we're watching prices move up. bertha coombs is here with that angle. over to you. what can you tell us? >> as those headlines cross, and in particular the headlines coming from israel that this was the beginning of a prolonged effort to combat hamas. that is what september oil spiking up 1% on a day when after poor retail sales, we really were seeing not much movement at all. traders are saying this definitely puts the geo political risk on the table as martin describes. the fact this could spread and cause more destabilization in the area. what they look for as well, this is not an oil producing area. this could spread. what it means if israel is willing to act so forcefully with regard to is
meanwhile, the egyptian government has recalled their ambassador from israel. the israeli ambassador will be leaving egypt within a few hours. this attack in gaza is becoming an international event, which could threaten to make the region even more volatile. >> martin fletcher, thank you very much. maria. >> well, the attack having a major impact on the oil market today. we're watching prices move up. bertha coombs is here with that angle. over to you. what can you tell us? >>...
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Oct 31, 2012
10/12
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and is sandy a case for big government? why some are using the superstorm to say big government really is better. we separate the fact from fiction of that argument. that's all ahead on this special edition of "the closing bell." customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. >>> all right, getting back to breaking news on netflix, herb greenberg is on the story. >> netflix shares up about 17% right now, they've been flying and just the recent 10, 15, 20 minutes news hit carl icon taken a 9.9% stake in the company. icahn has been buying the shares since early september and he's identified netflix because he believes it's undervalued in its dominant position and internat
and is sandy a case for big government? why some are using the superstorm to say big government really is better. we separate the fact from fiction of that argument. that's all ahead on this special edition of "the closing bell." customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's...
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Oct 10, 2012
10/12
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people gobbling up ten-year government debt at these extremely low yields because they think they're not going to get much better elsewhere? sounds like people don't think there's a lot of growth coming. >> i think there's a little bit of truth in all of it. i'll bring up another point. i think october, a lot of mutual funds ahave the end of their fiscal year. it's been a good run for stocks. the spread between what the stock market is telling us and the economy is pretty wide. the election, depending how it turns out, could have a lot of implications. to me, it makes perfect sense the closer we get to the end of the year, the closer we get to november, people are going to be lightening up. it all makes sense. >> yeah, and mandy, you were highlighting earlier oil is lower, gold is lower. a lot of the base materials have been suffering as well today. >> yeah, that's absolutely true. you know, i think what's also interesting, if it is indeed a scary october, bill, remember, buy low. if you're a long-term investor, then any kind of dip after what has been a good run up to multiyear high
people gobbling up ten-year government debt at these extremely low yields because they think they're not going to get much better elsewhere? sounds like people don't think there's a lot of growth coming. >> i think there's a little bit of truth in all of it. i'll bring up another point. i think october, a lot of mutual funds ahave the end of their fiscal year. it's been a good run for stocks. the spread between what the stock market is telling us and the economy is pretty wide. the...
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May 14, 2012
05/12
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maybe they will get a coalition government tomorrow. now we are heading lower tomorrow. lows near 116 point. now why the failure late today, do you think? what the message of the market right here? >> uncertainty out there, like you were just talking about. and there is a lot of traders and watching that 1336 level, broke through 1340 which is a good strong level. broke through that. now we will try to hold 1336 for the rest of the day. >> brian, we look at the sectors i mentioned earlier. all ten s&p sectors are lower today. very defensive kind of a day. who do you like here? you want it buy on some of the tips, i would imagine, yes? >> he want to move away from sectors and focus on themes and buy those companies in a bar bell approach. on one side dividend growth and on the other side quality growth. we mean the companies giving you consistent and stable earnings. with the predominant theme is how i do look in the gain? especially with strong stocks for the first quarter. that's how you see stocks feeding defensive areas. like utilities doing well the last couple month
maybe they will get a coalition government tomorrow. now we are heading lower tomorrow. lows near 116 point. now why the failure late today, do you think? what the message of the market right here? >> uncertainty out there, like you were just talking about. and there is a lot of traders and watching that 1336 level, broke through 1340 which is a good strong level. broke through that. now we will try to hold 1336 for the rest of the day. >> brian, we look at the sectors i mentioned...
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Jul 30, 2012
07/12
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too much big government, bad government in europe. you need to see the markets really free. we immediate economic freedom in europe. i think that's at the core of europe's economic problems at the moment. >> think about how long this crisis has been going on. haven't they had their sleeves rolled up already? don't you think they deserve a break? won't they come back refreshed? maybe they will come back with new ideas at that point. >> well, i have to say they will come back at the end of august. it is going to be -- >> we got a microphone that has taken a vacation. steve, what economic impact does it have when they are taking a vacation like that? >> let me make one point. overall europe has to increase its competitiveness. it is part of the long haul of how europe has to reform itself to start to solve its problems. it is not just august. it is -- seems like they take two months off. august and december, sometimes well into january it feels like you try to do business with . short-term issue. one should say on the short-term part of this is that in general these leaders go
too much big government, bad government in europe. you need to see the markets really free. we immediate economic freedom in europe. i think that's at the core of europe's economic problems at the moment. >> think about how long this crisis has been going on. haven't they had their sleeves rolled up already? don't you think they deserve a break? won't they come back refreshed? maybe they will come back with new ideas at that point. >> well, i have to say they will come back at the...
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Jul 9, 2012
07/12
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the government there for the first time selling bonds at a negative interest rate. essentially means investors will get back less than they are putting in and they are willing to do that. they are paying for the privilege of preserving their cash. >> sign of the times really. >> and it happened in germany as well. more on that in a moment. here is where we are standing today. moment the dow down 61 points. just off the lows of the session. 12,7120. nasdaq is down 13 points. less than half a percent at 2923. s&p 500 index is down about half a percent at 1348. we have breaking news already here at the top of the hour. here is mary thompson at the news desk. what do you have? >> hey there, bill. federal reserve just releasing the report on may's consumer credit and consumer credit expanding on its fastest annualized rate so far this year. expanding at 8% annualized rate. revolving credit which is essentially credit cards at 11.25%. nonrevolving credit essentially things like student loans and auto loans. also very healthy increase there. increasing at a rate of 6.5% on
the government there for the first time selling bonds at a negative interest rate. essentially means investors will get back less than they are putting in and they are willing to do that. they are paying for the privilege of preserving their cash. >> sign of the times really. >> and it happened in germany as well. more on that in a moment. here is where we are standing today. moment the dow down 61 points. just off the lows of the session. 12,7120. nasdaq is down 13 points. less...
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Jun 1, 2012
06/12
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how come the federal government isn't doing their share? >> the fact that he's a cubs fan, i think enough has been said right there and i think he's undermining his credibility right there. i think the fed believes that as well. what we know for sure is that the european bank believes that. i think they played their hand, perhaps to the detriment of europe, where the former president would not do it because he persisted on actions from the fiscal side. i think the fed is getting to that place. a, i think it has declining returns from what it did do. i think it disagrees with rick on the value of what it has done and certainly wanting to see more clarity from the fiscal side and things like -- and i know that bernanke has said that stuff, not as forcefully as you might in the political atmosphere. >> we have this fiscal cliff coming, all of the tax cuts coming, spending expiring. where is the leadership? when are we going to acknowledge the issues that the market may buy into that and we'll have a handle on thing? >> the great thing is that
how come the federal government isn't doing their share? >> the fact that he's a cubs fan, i think enough has been said right there and i think he's undermining his credibility right there. i think the fed believes that as well. what we know for sure is that the european bank believes that. i think they played their hand, perhaps to the detriment of europe, where the former president would not do it because he persisted on actions from the fiscal side. i think the fed is getting to that...
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Jul 11, 2012
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>> chinese government said growth slowed to 7.3 to 7.5% this year. >> down from 8%. >> still remarkable, and the middle class consumer is going at 15% to 20% a year. >> so are you seeing any slow down on the ground right now? >> still strong, remaining our projections. so out with earnings soon, so we should know if that statement will hold up. our next guest says the slow down in china will impact us, and eric says -- you heard what he said, he said china is slowing but it's not hurting us. should he be more worried than he seems to be? >> it has changed a lot, and we have gotten numbers hearing that growth is slowing there. burberry is decelerating, and well get another data point tornado night to see if that has further come in. >> erica, u know there has been a lot of talk about china slowing down, and what we know that 8% is still 8%. do you think some of this is backed into the stock prices of the luxtuury retailers. i think what we're seeing so far is a softer landing. >> what do you want to do then? >> i think from an investment standpoint there are really atrackive opportunitie
>> chinese government said growth slowed to 7.3 to 7.5% this year. >> down from 8%. >> still remarkable, and the middle class consumer is going at 15% to 20% a year. >> so are you seeing any slow down on the ground right now? >> still strong, remaining our projections. so out with earnings soon, so we should know if that statement will hold up. our next guest says the slow down in china will impact us, and eric says -- you heard what he said, he said china is...
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Jul 23, 2012
07/12
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too low in terms of sentiment, in terms of indicators, et cetera, the fed will step in and chinese government will step in, et cetera. and that could help push things higher. >> here is the thing. even if the fed steps in, whether it steps in next week, in except, steps in after that, if there is a fiscal cliff and go over it, it feels to me no matter what the fed does, negative impact that that fiscal cliff will outweigh everything. >> you are absolutely right. if we do have a fiscal cliff, then it is going to take the fed with it. if you will. so i think that that's why bernanke would like to wait as long as possible. there have been four times since 1976 that the fed has either raised or lowered rates in october, in an election year. so it is not an out of the question situation. >> you would certainly admit, i'm sure, that the -- the situation now is much more politicized and polarizing for that matter than it has been in a number of years. certainly you would say in any of those pastimes where the fed has acted in an election year. you know, bernanke does want to have any implication wha
too low in terms of sentiment, in terms of indicators, et cetera, the fed will step in and chinese government will step in, et cetera. and that could help push things higher. >> here is the thing. even if the fed steps in, whether it steps in next week, in except, steps in after that, if there is a fiscal cliff and go over it, it feels to me no matter what the fed does, negative impact that that fiscal cliff will outweigh everything. >> you are absolutely right. if we do have a...
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Apr 23, 2012
04/12
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so now a government that been wobbly for a while. you see the earnings numbers, they go up day after day. >> earnings are good. >> they will be almost 5%. >> earnings are good but are they good coming out of europe? you know we will see recession number out of places like spain, places like portugal. we got them, right? jonathan one say headlines are can continuing to dominate and tomorrow consumer confidence will be key. tell us what you are expecting. >> it seems like we are back to five months ago where every headline out of europe was dictating our market. that's what we are seeing now. i'm surprised our earning season hasn't moved as much as in the past. but so far we are slowly getting into it. yes we see positive numbers. no economic data on the tape today. so that left an lot to focus on coming out of u.s. but we have sales, consumer confidence, it gives consumers something to look at domestically. we will have big names coming out tomorrow, telephone, steel. and apple after the bell. hopefully tomorrow we get the focus back
so now a government that been wobbly for a while. you see the earnings numbers, they go up day after day. >> earnings are good. >> they will be almost 5%. >> earnings are good but are they good coming out of europe? you know we will see recession number out of places like spain, places like portugal. we got them, right? jonathan one say headlines are can continuing to dominate and tomorrow consumer confidence will be key. tell us what you are expecting. >> it seems like...
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Oct 17, 2012
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>> 95% of all new mortgages are controlled by the government. do you know that 40% of those mortgages are now guaranteed explicitly by the fha? that's with 3.5% down. the entire economy is addicted to these fictitious interest rates. they're at 0%. interest rates are going rise because of the overwhelming amount of debt that we are issuing and because of the inflation we are creating. when that occurs, you are going to wipe out the housing market bounce back, and we're going go right back into another leg down in housing and the economy. >> you're not real happy about what's going on. >> not at all. >> carol, i know you feel a lot of the data are what you feel are schizophrenic. >> absolutely. i think the housing data is completely schizophrenic. who's buying these houses? people can't afford the mortgages. they can't even qualify for the mortgages. i think this is driven a lot by investors and not by the average consumer. so i am kind of with the panel here. i feel like this could be a potential additional asset bubble. i'm just not buying it.
>> 95% of all new mortgages are controlled by the government. do you know that 40% of those mortgages are now guaranteed explicitly by the fha? that's with 3.5% down. the entire economy is addicted to these fictitious interest rates. they're at 0%. interest rates are going rise because of the overwhelming amount of debt that we are issuing and because of the inflation we are creating. when that occurs, you are going to wipe out the housing market bounce back, and we're going go right back...